Terror Funding

  • Terrorism financing is the provision of funds or providing financial support to individual terrorists or non-state actors.
  • Terrorists and terrorist organizations often use any resource of money they can have access to in order to fund themselves. This can range from the distribution of narcotics and black market oil. ISIS is known to use black market oil distribution as a meTerror Fundingans of funding their terrorist activity.
  • The internet is a growing modern form of terrorist finance as it is able to protect the anonymity that it can provide to the donor and recipient.
  • Terrorist organizations use propaganda in order to rally up financial support from those who follow them. The funds may also come from an illegal source but appear to come from a legal source, through money laundering.
  • Most countries have implemented measures to counter terrorism financing (CTF) often as part of their money laundering laws.
  • The Financial Action Task Force on Money Laundering (FATF) has made recommendations to members relating to CTF. It has created a Blacklist and Greylist of countries that have not taken adequate CTF action.